Four-room HDB resale flat on Upper Boon Keng Road sold for over $1.3 mil

Residents of Woodlands Champions Way Condo can make use of many facilities such as a swimming pool, gym, BBQ pits, outdoor exercise area and jogging track. Easy accessibility is also one of the major advantages of living here as it is near to both Khatib and Yishun MRT stations. Shopping centres such as Northpoint City and Junction Nine Shopping Mall are also just a short distance away from this residence. With a great home, a host of amenities and convenience, it is no wonder that Woodlands Champions Way Condo is so popular amongst homebuyers and investors.

The sale of a four-room HDB resale flat located at 8B Upper Boon Keng Road in the Kallang-Whampoa estate has set a new record for a unit outside of the Central Area, at $1.300888 million. Martin Silva, Associate Division Director at Huttons Asia, brokered the deal for the 28th-floor flat, which is 1,023 sq ft, or $1,272 per square foot.

Lee Sze Teck, Huttons’ senior director of data analytics, noted that the sale of the unit at 8B Boon Keng Road marks a new high for four-room flats outside of the Central Area. The previous record was the sale of a 1,023 sq ft HDB flat at Sky Terrace@Dawson on Dawson Road in the Queenstown estate. In February, that unit was sold for $1.188888 million, meaning it was sold for $1,162 psf.

The sale of the unit at 8B Upper Boon Keng Road comes shortly after the sale of a four-room flat at 50 Moh Guan Terrace in Tiong Bahru, which was an amalgamated pair of adjacent three-room flats measuring 1,894 sq ft. This set the record for the highest sale at $1.5 million ($792 psf).

The record for a four-room resale flat islandwide is held by a 1,011 sq ft unit at Pinnacle@Duxton at 1B Cantonment Road which sold for $1.41 million in August, making it the resale HDB flat to achieve a price of $1,394 psf.

The unit that was sold at 8B Boon Keng Road enjoys fully unblocked views of Kallang River and Marina Bay Sands, thanks to its high floor. The block that the flat is located in is one of three blocks that make up the HDB cluster Kallang Trivista, which is a short walk away from Kallang MRT station. It is located at 8 Upper Boon Keng Road and was completed in 2016, achieving its minimum occupation period in 2021.

As the number of four-room flats transacted for at least $1 million has reached an all-time high, the new owner of the unit at 8B Boon Keng Road benefits from the fact their flat is not subject to Prime Location Public Housing Scheme (PLH) restrictions, providing them with more investment flexibility.

Figures on data.gov.sg show that to date in 2023, 86 four-room flats have been sold for at least $1 million. By comparison, 38 such transactions were recorded in the whole of 2022, while 44 were seen in 2021.

The sale of the four-room flat at 8B Boon Keng Road in the Kallang-Whampoa estate reflects the higher demand for HDB units, and marks the highest sale for a unit outside of the Central Area. Thanks to its high floor, the flat is unblocked and offers a range of nearby amenities, as well as not being subject to PLH restrictions for greater investment flexibility. With figures for this year far surpassing previous years, the sale of this flat indicates a trend in rising prices for HDB four-room units.